Bergamo Acquisition Corp. (BGMO)

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BGMO Finance Training for the Un -Sophisticated Investor

In order to transfer messages, SWIFT developed nine different types of messages. The MT760 is one of those messaging options. Usually, it is a message sent at the request of the account holder, from one bank to another. The account holder wants to show the other bank there are funds available to cover a particular transaction. In order to make this message happen, the account holder agrees that their bank will hold the same amount of funds as security for the transaction. This security feature makes the MT760 a cash-backed financial instrument.


http://financetraining.com/mt760-explained-the-mt760-explained-in-terms-you-can-understand/